Refunds pull down tax collection by 8%

Tax refunds rose a robust 183.18 per cent during the April-July period of 2011-12,pulling down net direct tax collections.

However,gross direct tax collections during the four- month period were up by 26.63 per cent at Rs 1,32,542 crore as against Rs 1,04,668 crore a year-ago.

Besides,belying fears of an economic slowdown,gross collection of corporate taxes surged 29.56 per cent at Rs 85,222 crore against Rs 65,776 crore in the corresponding

period last year.

Gross collection of personal income tax was up by 21.64 per cent at Rs 47,214 crore from Rs 38,816 crore last year. The growth in wealth tax collection was up by 38.67 per cent during the April-July this fiscal at Rs 104 crore.